Net income fell to 25 billion yen ($275 million) in the
three months ended Dec. 31 from 34.7 billion yen a year ago, the
Tokyo-based company said today in a statement. Tetsuji Ohashi
will succeed Kunio Noji as chief executive officer, it said.

Komatsu cut its full-year net income forecast by 12 percent
to 138 billion yen. Sales are forecast to reach 1.92 trillion
yen, down from its October estimate of 1.97 trillion yen.

Caterpillar said gains in its sales and profit this year
will come in the second half as the world economy improves. The
company forecast 2013 earnings of $7 to $9 a share on revenue of
$60 billion to $68 billion. Sales declined 9.3 percent to 419.7
billion yen.

Komatsu rose 1.3 percent to close at 2,385 yen on the Tokyo
Stock Exchange. The stock has gained 9.2 percent this year,
compared with a 4.5 percent advance in the benchmark Nikkei 225
Stock Average.

Komatsu said Senior Executive Officer Ohashi will replace
Noji, who will take the post of chairman, according to a
separate statement released today. The appointment will take
effect on April 1. Masahiro Sakane, the current chairman, will
become a director and councilor, the company said.